⚡ StackSats Saturdays | 2021 Week#2

🏛 Crypto taxes, 🛍 Bitcoin cashback rewards, 💱 Websites to borrow BTC

🤔 How are crypto taxes calculated?

For crypto taxes it's important to use tools that calculates your tax liability using the same methods tax professionals use. Rest assured that you are paying the correct amount and minimizing your crypto tax liability. E.g. FIFO, LIFO and HIFO support. You want to be able to calculate your gains and losses using every fiat currency. Crypto tax tools include:

Built in tax loss harvesting tools help you offset and reduce your capital gains. Cryptocurrencies with the largest tax savings opportunities appear on the tax loss harvesting report to help you plan your future trades. Use software that connects to every crypto exchange. No matter where your data is from, to import and reconcile it with your trading history.

🤔 What are the crypto websites where you can borrow BTC?

Looking to take out a Bitcoin loan or to make more crypto through Bitcoin lending?

There are crypto lending platform designed to help you earn interest on savings or to borrow against your crypto. Borrowing crypto is one of the best tools available on the market if you are looking to finance a business, or increase the volume of available capital for day trading or high yield investing.

Examples of these crypto websites to borrow crypto:

Decentralized finance, enabled by the emergence of Bitcoin and other cryptocurrencies — especially Ethereum — in recent years, is a rapidly growing field, and one of its main components is crypto lending. DeFi lending is done exclusively online, and the lending services are non-custodial and automated, meaning that they don’t hold the users’ cryptocurrencies, but instead only connect lenders and borrowers with each other.

Along with the increased efficiency and speed of online Bitcoin lending, you get interest rates that tend to be significantly lower than those offered by traditional financial institutions like banks.

🤔 What shopping apps offer Bitcoin cashback rewards?

Some websites today exist with the goal of making it easy to earn, own, and share bitcoin with as many people as possible. If you strongly believe in bitcoin's power as a global alternative currency and universal store of value and want to share it with the world then this is for you.

Examples of these websites or apps to get Bitcoin cashback rewards:

In some parts of the world, Bitcoin in its current state is not easily accessible. The mission is to change this, making it easy for everyone to earn, save, and share bitcoin. Online shopping as an incredible opportunity to both educate and reward people with the power of bitcoin. We want to live in a world where every payment is as fast, inexpensive, and universal as sending a text message. Together we spread bitcoin to billions of people all around the world with the click of a button. Let's start building the future we all want to live in.

👀 Highlights of the week:

  • Bitcoin Now Larger Than Facebook’s Market Cap — ‘Money Network More Valuable Than Social Network’. (Bitcoin.com)

  • Winning Hearts And Minds For Bitcoin. (Bitcoin Magazine)

  • JPMorgan Puts $146,000 Price Tag on Bitcoin. (CryptoBriefing)

  • The Smart Way to Talk About DeFi’s $22B. (CoinDesk)

  • Pension funds are getting in on Bitcoin, according to Grayscale. (Cointelegraph)

  • Bitcoiners in 2021. (r/Bitcoin)

  • 3 Ethereum Alternatives That Banks Should Be Monitoring. (Bitcoinist)

  • 1000 Bitcoin Trading Bot Simulations. (Coinmonks)

  • Ukrainian government and Stellar to develop virtual asset and CBDC infrastructure. (CryptoNinjas)

  • Don’t Sell Your Bitcoin and Ethereum on RSI Warnings: Analyst. (NewsBTC)

PS - Joined our community on Quora yet? A bunch of Bitcoin ₿elievers sharing, learning and looking out for each other.

Not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Do your own research.